Posted by ramana on Wednesday, June 18, 2008 at 3:36pm.
what rate willl an amount double itself in 20 years at simple interest?

10th  DrBob222, Wednesday, June 18, 2008 at 3:59pm
(1.00+x)^20 = 2 where x is the percent. If we call 1.00 + x = Y, then
(Y)^20 = 2
20*log(Y) = log 2
20*log(Y) = 0.30103
log Y = 0.30103/2 =
Solve for y and that will tell you what 1+interest rate must be. Subtracting 1.00 will give you the interest rate. I get something like 3.5%

10th  Damon, Wednesday, June 18, 2008 at 4:04pm
In 20 years you must make one times the original amount in interest.
20 x = 1
x = .05 or 5%

10th  Damon, Wednesday, June 18, 2008 at 4:05pm
It said simple, not compound.
Answer This Question
Related Questions
 Simple interest math  How many years will it take to double an investment if ...
 math (SIMPLE INTEREST)  4.the amount in an account which was opened 180 days ...
 math (SIMPLE INTEREST)  at what rate of simple interest will a sum of money ...
 compound interest  How do I solve these problems? Complete the table for a ...
 math  Amount of an investment. The amount of an investment of P dollars for t ...
 Business Math icom 1  Find the ordinary interest in a loan of Rs.2600 at 10 % ...
 maths  A sum of money becomes 8/5 of itself in 5 years at certain rate of ...
 simple interest  a student borrow $12000 at a simple interest rate 4.5% how ...
 Math  The amount of an investment of P dollars for t years at simple interest ...
 Math  Your Aunt will give your $1,ooo if you invest it for 10 years in an ...
More Related Questions